Interest rates in the inter-bank market are declining in contrast to previous years when the rate often increased significantly due to rising capital demand at year-end.
Soon after the US announced a 0.25 per cent cut in the benchmark interest rate on July 31 seven Vietnamese banks, including State-owned lenders, announced a cut in interest rates on dong loans of at least 0.5 per cent to...
Some banks have unexpectedly announced they would cut interest rates on Vietnamese dong loans in the Government’s priority sectors to support firms in 2019, starting from today.
On Wednesday, four State-owned banks said they would cut interest rates on dong loans in the Government’s priority sectors to support firms in 2019, starting from Thursday.
Following the State Bank of Viet Nam (SBV)’s decision to cut the annual maximum short-term interest rate for dong loans by 0.5 percentage points, several banks have announced rate cuts.
Since mid-February interest rates on dong loans on the inter-bank market have surged, somewhat surprising analysts since liquidity at most banks is pretty steady.
The State Bank of Viet Nam (SBV) is determined to maintain the strength
of the Vietnamese dong, while speeding reforms to the nation''s economic
system and resolving troubled loans.